Bill Gates is the majority shareholder of Microsoft, not the president/CEO/whatever. The CEO is a guy called Steve Balmer, known for his "Developers! Developers! Developers! Developers! Developers! Developers!" talk.
Also, Bill probably thinks the same as everybody else: Xenon is the best name out of the ones proposed. Or perhaps he didn't know whether Marketing would let him use the final name.
The rest of it is pretty much the same Iwata was saying about the Revolution minus the "innovation over graphics" talk. We're forging relationships with third parties. We're trying to appeal to non-gamers as well as gamers.